CARIBOU — Municipal officers announced on Sept. 15 that the Caribou Utilities District has received a $2,071 dividend check from the Maine Municipal Association as a result of its good loss experience and loss prevention programs.
The Maine Municipal Association offers three self-funded pools for municipal and quasi-public entities in Maine — the Worker’s Compensation Fund, formed in 1978, the Property and Casualty Pool, formed in 1987 and the Unemployment Compensation Fund formed in 1978.
The programs are overseen by governing boards of elected and appointed municipal officials. The board reviews the programs’ loss experience to determine if dividends may be paid each year. Patricia Kablitz, director of risk management services for MMA, said more than 75 percent of program participants receive dividends each year for their good risk management practices and loss experience.
This year the Workers’ Compensation Fund has distributed almost $600,000 in dividends to participants and the Property and Casualty Pool has paid dividends of nearly $500,000 for total payments of over $1 million provided directly to MMA members. Since 1997, the three programs have returned close to $14 million in dividends to participating members.
